Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.014%

Price spread now: Gate against Ondo Perps+0.049%7-day average +0.033% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Ondo Perps Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.118%−$12 on $10k

Price spread, last 7 days+0.063%+$6 · spread now +0.049%, 7d avg +0.033%

Together, before fees−0.055%+ Points / potential airdropOndo Perps: Active · farm board−$5 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.033%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps META-USD.P	739.97	0.0050	pay 0.0006% / 1h	2m 10s	$686K	$4.4M	10x
Short	Gate META_USDT	740.33	0	get 0.0000% / 8h	7h 02m	$351K	$5.7M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Ondo Perps. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee Ondo PerpsbpFee GatebpOrdersPrice spread, now +0.049%Rate

Funding earned: −$10.58
Price spread: +0.049% → +0.033%: $1.53
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$29.06
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Ondo Perps: no order-book sample; Gate: live order book, 1 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Ondo Perps no order-book sample	—	—	—	—	—
Sell Gate live order book, 1 min ago	5.20 bp	15.5 bp −$16	44.5 bp −$445	doesn't fit	doesn't fit

Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

META on 36 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit META_USDC-PERPETUAL	−0.0142%	1h	739.98	+0.001%	$30K	$246K	10x	as long as short
BloFin META-USDT	−0.0120%	8h	740.77	+0.108%	$326K	$1.1M	20x	as long as short
Nado META-PERP	−0.0098%	1h	740.42	+0.061%	$490K	$523K	20x	as long as short
Aster METAUSDT	0.0000%	8h	740.39	+0.056%	$466K	$549K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	740.24	+0.037%	$550K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.43	+0.062%	$27.4M	$179.9M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	740.70	+0.099%	$7.5M	$14.0M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.25	+0.038%	$6.0M	$13.3M	20x	as long as short
Gate META_USDTshort	0.0000%	8h	740.33	+0.049%	$351K	$5.7M	100x
Bitget METAUSDT	0.0000%	8h	740.41	+0.059%	$5.6M	$11.3M	100x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni META	0.0000%	8h	740.83	+0.116%	$2.4M	$3.3M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	740.87	+0.122%	$13K	$453K	10x	as long as short
SunX META-USDT	0.0000%	8h	740.67	+0.095%	$821	$9.3M	20x	as long as short
HTX META-USDT	0.0000%	8h	740.20	+0.031%	$105K	$295K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.72	+0.101%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	740.66	+0.093%	$753K	$3.2M	20x	as long as short
Vest META-USD-PERP	+0.0046%	1h	740.87	+0.122%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.43	+0.062%	$176K	$197K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	740.25	+0.038%	$558K	$857K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.41	+0.059%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.Plong	+0.0050%	1h	739.97	long leg	$686K	$4.4M	10x
QFEX META-USD	+0.0055%	1h	740.20	+0.031%	$2.2M	$14.1M	10x	as long as short
Paradex META-USD-PERP	+0.0060%	8h	740.50	+0.072%	—	—	5x	as long as short
Arcus META-USD	+0.0063%	1h	740.15	+0.024%	$110K	$331K	10x	as long as short
Aftermath Perps METAUSD	+0.0068%	1h	741.04	+0.145%	$48K	$80K	10x	as long as short
Hotstuff META-PERP	+0.0088%	1h	740.56	+0.080%	$33K	$105	20x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.72	+0.101%	$1.6M	$454K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	740.31	+0.046%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.43	+0.062%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	740.27	+0.040%	$266	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0144%	1h	740.19	+0.030%	$610K	$7.4M	10x	as long as short
tradeXYZ xyz:META	+0.0164%	1h	740.51	+0.073%	$67.9M	$121.1M	20x	as long as short
Lighter META	+0.0192%	1h	740.63	+0.089%	$857K	$2.5M	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	741.98	+0.272%	$171K	$48K	30x	as long as short
Phoenix META	+0.0259%	1h	741.55	+0.214%	$335K	$930K	20x	as long as short
edgeX METAUSDC	+0.0394%	4h	740.15	+0.024%	$62K	$335K	10x	as long as short